Klondike Gold Corp (CVE:KG) (OTCMKTS:KDKGF) said it has brought in over C$1.22 million after it closed a previously announced non-brokered private placing.
The Yukon-focused explorer issued over 3.4 million flow-through units at C$0.19 each for gross proceeds of $661,500.01 and over 3.2 million non-flow-through units for C$0.175 each for gross proceeds of $560,987.53. Overall, the financing raised C$1,222,487.54.
"I would like to acknowledge and thank our North American and European shareholders as well as the company's staff and management for their continued financial support and long-term confidence," Peter Tallman, CEO of Klondike Gold said in a statement.
"The funds allow the company to plan for a targeted, meaningful work program conducted under operating conditions that protects our local host community, our contractors and our employees."
Each flow-through unit is comprised of one common share which is a "flow-through" share for Canadian income tax purposes and one warrant exercisable at C$0.25 per share until August 23, 2022. Each non-flow-through unit consists of one share and one warrant exercisable at C$0.25 per share until August 23, 2022.
Klondike is a Vancouver-headquartered gold exploration company advancing its 100%-owned Klondike District gold project located at Dawson City, Yukon Territory, one of the top mining jurisdictions in the world.
Shares in Toronto added 2.3% to C$0.22 each.
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